Do you drive an expensive car? - UPDATE - PAGE 7

[Pigeon]

No expensive cars here. I couldn't care less what a car looks like so long as it's reliable and fuel efficient.

 

[The Mayor]

For the last 30 years I've only owned Jeep Grand Cherokee's (not the same one )...I currently have a 2007 that was around $30K...I keep them 2 years and trade them in...they are always the most reliable vehicle we own and I love having the 4WD in the MA winters...we also own a 2007 Lexus
LS460...we don't have any car payments.

 

[vettechick99]

I used to have a Corvette. It had just 6,000 miles on it and was only a year old. I paid $40,000 for it - my payment was $800 a month.

I would never do it again (unless I was rolling in it), even though it held it's value well. Now I drive a Honda Odyssey and the payment is $550. I like that much better!

 

[Eeyore'sthebest]

I drive an 8 y.o. Hyundai Elantra. Its a good little car that I plan on driving for at least another year (keeping my fingers crossed). We obviously won't trade it in because I can't imagine it has any value. We'll keep it for a back up. DH has a 2005 Dodge Grand Caravan with the stow and go seating. Those seats are sooo cool. It came fully loaded. Hoping to put down a big chunk of change on the note next month.
I can't decide what my next car is going to be but won't purchase it until the van is paid off (hopefully). My gut is to go back with a Hyundai but those Infinitis are really nice....
Good luck with your decision.

 

[SC Minnie]

Using your criteria we have 2 'expensive' cars. 2006 Explorer and 2007 Solara Convertible. Payments are ~$500/month each.

We got the Explorer on a 0% financing deal.

 

[Am_I_There_Yet]

I drive a Nissan Maxima, that was around $35k. We financed it for 1.9% interest and my payments are around $600 per month.

We're looking at trading it in next year, and are looking at a BMW 328i. I'm hoping I can keep my payments as low!

 

[mmcguire]

Was there ever a time you were worried about having such a huge car payment? That's what I worry about, like what if I lose my job or something and can't afford it? I will put back a couple of payments in my savings account, but it's still kind of scary. The $$ I make now I can afford it no problem, but I'm looking at a 3-5 year loan. Guess I can't worry about it that much, just be responsible with my $$ in all other aspects and I should be fine.

In our case, that wasn't too big a concern. We have always kept a good chunk of $$ in savings, and worst case scenario (long term unemployment, etc.), we have equity in our home that we could dip into in a dire emergency.

 

[EthansMom]

I think an "expensive" vehicle is one that either doesn't meet your lifestyle needs or costs more than you can afford.

Personally, I'd like to get a little red convertible some day (when I don't have to have room in the back seat for kids).

 

[Quinny]

Don't lecture me about green, I bought credits.

We have a giant SUV too! Tell me more about the credits. Your post got me interested and I found Terrapass--is that what you did? TIA!

 

[dejavu]

I have a 07 Lexus RX350 love love love it! I sold a 05 trailblazer outright paid $38,000 for the Lexus and have 4 years of 420 a month

 

[Desnik]

I drive a Subaru Tribecca B9 and it was about $36,000 once I added the 3rd row and other stuff I wanted. DH drives a Mercedes E320 4Matic and it was about $56,000. We change cars about every 2-3 years so we usually lease my car because I don't put a lot of miles on it and finance DH's car because he commutes to the city everyday and he puts on a lot(about 140 each day) of miles. One payment is about $550 and the other is $450. We have had just about every make of car and we really loved the Toyota Camry. It was the perfect size, drove nice and was pretty and a great price and suoer reliable. We had a 2004(I think) and DH put over 90,000 miles on it and it ran as if it was new, never had a problem with it! The Jeep Grand Cherokee I had was so great in the snow, nothing beets it! But, we flipped in it in a bad car accident and totaled it and I could never get myself to drive another one again. We always have car payments like we have now because we don't put too much money down on them and we don't have credit card debit or any loans, just mortgage, utilites and car payments and insurance!! That's how we justify it!

 

[lindakmonty]

I bought my car new in 99' it was over 40k and $860 a month never again. I LOVE the car, it now has 244k miles and still going... I paid it off in a year and a 1/2 but I will never pay that much for a car again w/o having a huge chunk to throw down or pay cash all together. OH, it is a Volvo S80 T6

 

[NewJersey]

I drive a 2007 Acura TSX - w/ navigation system. I think it was about $31K all together after taxes, license, etc. I love it! Sometimes I wish I got a less expensive car but if i had gone with a less expensive car, I'd have wished I got the TSX.

 

[stargrazer]

We have a giant SUV too! Tell me more about the credits. Your post got me interested and I found Terrapass--is that what you did? TIA!

Green Credits...Terrapass is one, e-bluehorizons is one, cleanandgreen is another; there are several to consider, you make donations to whichever you feel most comfortable with.

Agreed, credits are not the best thing; next time I'm doing a smaller car with better gas-mileage and better on the enviroment but I wanted a tank for my DD to learn to drive with, among other things.

 

[chris1gill]

I used to... had a Lexus ES300 at the time.... I figured that the depreciation per year came to about 3 grand per year if not more... I came to a point where I said Why bother?? If I pay ten grand on a car the most I can lose is ten grand, whereas if I spend 35 grand, I can lose a heck of a lot more... I put the money into other things like the kids now LOL....

 

[Cindy B]

No!

My DH had a previously expensive car (now it is older and not expensive)-- an extended length Expedition. I have a Jeep Cherokee and I love it!

I can't imagine a car payment, let alone a high car payment.

 

[Micca]

I'm not really a car guy. I'm driving a 2002 Ford Focus I inherited last year.
DW has a Saturn Vue (2004 I think) which is nearly paid for. I wouldn't mind something a little nicer, but I wouldn't spend big bucks unless I hit the Powerball.

 

[Am_I_There_Yet]

No!

My DH had a previously expensive car (now it is older and not expensive)-- an extended length Expedition. I have a Jeep Cherokee and I love it!

I can't imagine a car payment, let alone a high car payment.

Are you ready for this? I've had a car note for the past 22 years. I've never paid off a car. I keep them about three years and get an uncontrollable new-car itch. I am horrible when it comes to building any sort of equity into a car.

Since I bought my Nissan, I remarried though, and DH is NOT cut from the same cloth. The deal was, I had to pay this one off, before I could get my all-time dream car - the BMW. Now that it's getting close, I'm finding that I'm not wanting one as badly as I once did. Go figure.

 

[DisneyPhD]

Based on the $25K criteria, yes, we have two -- a 2006 Honda Odyssey and a 2007 Honda Accord. We paid cash for them both (along with trade-ins), though.

Us too, (Odyssey 2004 new when we bought it, fully loaded) but I don't really think of them as high priced cars. It is a mini van after all. A nice mini van. I love it, but a mom mobile no less.

DH has new Honda Civic. He paid cash for that. (we did get a good financing on the van so we are doing that.) They are nice cars, we love them, but I don't think of them as high prices status cars. I like to borrow his can when ever I can. Before this he drove a Chevy Cavalier for close to 10 years. I think he will have this car for a while. My 17 year old nephew has the Cavalier now.

 

[MICKEY88]

2002 Chrysler 300M Special..

Just under 35,000 when new...

best car I've ever owned, and the members of the Chrysler 300M Enthusiasts Club are the best bunch of people you could ever meet.